CMA CGM DIVERSIFIES OUTSIDE LINER SHIPPING

CMA CGM DIVERSIFIES OUTSIDE LINER SHIPPING

   CMA CGM, the French container shipping line, said that it will embark on a diversification program that will bring the company into the logistics, cruise shipping and ports businesses.

   CMA CGM has set up a project team to review the logistics service business and has created a subsidiary, Logistics Link, that will eventually operate the group’s logistics services. A spokesman for CMA CGM said that the group plans to offer logistics services as complementary services to shipping.

   The French company said that it has just been appointed agent for France and French overseas territories by tour operator Renaissance Cruise. CMA CGM is also planning to enter the tour operating business in the Near East and Mideast regions.

   On the ports side, CMA CGM said that it has set up Terminals Link, a new subsidiary, to expand its port activities. It will look at port businesses

in Europe and in Asia, a spokesman for the company said.

   CMA CGM reported preliminary revenues of 13 billion French francs ($1.9 billion) for 2000, an increase of 34 percent. Container volumes carried rose by 23 percent last year, to 1.7 million TEUs.